Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1887-03-22


Gentlemen of the City Council:
We have been called to these places with
unusual unanmity, but let US not be deceived
BY this with the belief that it is because of
any special fitness of ours, but rather that
sur constituents feel confident that we will
administer these trusts in business like and
economical manner. Then let US so labor,
that when we stand in these places one year
hence to hand ovet to our successors, the
responsibilities we to-day assume, that none
can say this confidence, thus reposed, has
been in any sense misplaced.
FINANCES.
The city's financial condition is as follows
LIABILIrIKs.
bper cent bonds of 1861, t4100 90
Refunded Sprague loan, 100000 %
8per cent b,nds Of 1878, 5000 90
Temporary loans, 1850 OC
Due school district, 376 ~
Bonds and coupons due not presented
for payment l8,l0s
a2.os4 y
Trust funds
st. Marks Home, 1000 OF
Lithgow Library, 10000 OF
Toll. liabilities. ss40. 1854 y
Unsolicited taxes. el9,72a s.
Cash on hand, 1880 81
Tax deeds, 1857 s!
Uncollected taxes 1873, 2,5 lt
Due from State for Armory. 5000
Real estate, gravel bank, 1900 &C
Due from county about 200 o,
Total resources. 4IO,747 o;
Net amount of debt, 3308, 336 ~
Reduction from last year, $4,2l4 o.
In July last 4l00 of the per cent bond,
matured and were paid, $4,000 Of it being
raised by taxation, that sum being as large as
the Finance Committee felt justified in rails
ng with the other imperative calls upon the
treasury. The balance of this loaa $ll00
was ? divided for by temporary loan at 4
per cent interest, and this sum will need to
be raised this year
Ga February 18th, the Sprague loan, So
called, amounting to $500, 800, and bearing
interest al per cent, matured, and, with the
advice of the Finance Committee, | negoti
ated loan at the Maverick National Bank in
Boston for 100000 at per cent interest,
and 10 mature as follows: 81 800 on Feb. Is,
1889; $4,000 Feb. IS, 1890; SO, 800 Feb. 10,
1891; $1,000 Feb Is, 1892; 80 800 Feb. 10,
1898; $1,000 Feb. 10, 1894; 81 800 Feb 10,
1888; $4,000 Feb 10, 1896; 5000 Feb. l5,
1897; $4,000 Feb, 10, 1905; Sl0, 900 Feb. Is,
1906 $4,000 Feb. 10, 1907; Sill 900 Feb.
10, 1908; Sl2,50O Feb. 10, 1909; Sl2, 500
Feb. Is, 1910; SIS 900 Feb. 10, 1911: Sl5,,
700 Feb. 10, 1912; $4,000 Feb Is, 1918;
$4,000 Feb. 10, 1914; $4,000 Feb. Is,
lSl5; $4,000 Feb. 10, 1916; $4,000 Feb.
10, 1877 On this loan we received a pre-
mum of one half of one per cent, or $1,000,
aou the difference in the rate of interest will
make net annual saving of 81, l6S which
win the $1,000 annually appropriated for re-
aue'' on of city debt will pay of the bonds of
ou'h loans as fast as thew mature, without
ans further increase in the rate of taxation,
80 INST IN thirty years. if we incur no further
Indebtedness, we shall see our present debt
en'ifely wiped out, and that ithout seriously
'uruenlng our taxpayers.
we are apt to look upon our city debt as
50 large as to be almost beyond the hope of
.'ei getting rid of it. Yet the entire bonded
'ep' is but $3.50 900, or a little over 6 per
.e"' Vi our taxable valuation, and, upon in
,.suga'lon find that but few of our sister
u,nes stand as we'll, and most of them very
INV. aa'S worse, as but four of all the cities in
aus o'a'e had lower rate of taxation than
t ausus'a last year, and the lowest of these
i;s s' vas IL mills, while ours was 1914, or a
inference a. of only 81 Is on a thousand dol
s, ana while this is a favorable showing,
s"a Tvs 'hs year by practising the most rigid
o ouvaomy consistent with the public good do
n" paft 10 put our city at the very head of
~a n'I During the present municipal year
s,n sua'i be obliged to provide for our debt as
I sss OF 6 per cent loan carried from
teS. OF sprague bonds over the re.
s sma bonds and premium on
Ref cent loan Of 1854, maturing in
rosal, essot
CRY IMPROVEMENTS.
observe that in the cities and larger
tb,o thus OF this State efforts are being made
,ougn the medium of boards of trade and
10 ., similar organisations of business men
!. aact outside capital to locate therein.
. mot Augusta rather backw yard in this direc.
vs ~. During the present year we shall lose
mar lf left of the railroad shops, thus throw.
10 ou' OF employment some of our best cti.
.sns ana something should be done to make
,a;s sMs 1883 believe it is a most encour.
s smg sign that so large a proportion of oul
on. interests have gone into the hands Of
~, young men, and it 10 to these that we must
bo u. lor help in this direction, and it be-
ss, o,es US all as citizens with common inter
ana ~ !" Mke vigorously hold of this matter
and w all In our power to promote the growth
material welfare of Augusta.
SCHOOLS.
n; oui schools in the Village and Williams
t.;n ",ct and City High school have been main
tho so az tnelr usual high standard and in
Tho r "rmer new school for the benefit OF
frora encn children has been established and
h rom its inception has been marked success
. .,syond the anticipations Of it's most enthu
'a''le projectors, and in no way can We &C